Define: Uncommitted Facility

UK Accounting Glossary

Definition: Uncommitted Facility


Quick Summary of Uncommitted Facility





What is the dictionary definition of Uncommitted Facility?

Dictionary Definition


An uncommitted facility is an agreement between a bank and a company in which the bank agrees in principle to make funding available to the company but is under no obligation to provide a set amount of funding; If a loan is made it likely will be only for a short period.

Examples include: a money market line or an overdraft.


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Page URL
https://payrollheaven.com/define/uncommitted-facility/
Modern Language Association (MLA):
Uncommitted Facility. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 21, 2019 https://payrollheaven.com/define/uncommitted-facility/.
Chicago Manual of Style (CMS):
Uncommitted Facility. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/uncommitted-facility/ (accessed: November 21, 2019).
American Psychological Association (APA):
Uncommitted Facility. PayrollHeaven.com. Retrieved November 21, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/uncommitted-facility/

Definition Sources


Definitions for Uncommitted Facility are sourced/syndicated from:


This glossary post was last updated: 6th May 2019.